ViaSat Reports Record Revenues of $118.1-M for 4Q FY 2006
ViaSat Inc. reported on Tuesday fourth quarter revenues for fiscal year 2006 of $118.1 million, new orders of $133.3 million, net income of $0.28 per share
on a diluted non-GAAP basis, and cash flows from operations of $22.2 million. ViaSat attributed the rise in revenues from increased sales in tactical data links and networking and information assurance products. It said there was also a notable increase in commercial segment revenues primarily from enterprise VSAT and consumer broadband product areas. ViaSat said financial highlights for the fiscal year include record revenues of $433.8 million, net income of $1.00 per share on a diluted non-GAAP basis or $0.81 per share on a diluted GAAP basis, new business orders totaling $443.7 million, and cash flows from operations of $52.2 million. “Fiscal year 2006, our 20th anniversary year, was our best ever, resulting in records in all our basic metrics -- orders, revenues, earnings and cash flows,” said Mark Dankberg, chairman and CEO of ViaSat.
“Our financial performance reflects a strong competitive posture in our targeted government and commercial market segments.” ViaSat said its Government segment recorded quarterly revenues of $54.4 million and record annual revenues of $210.6 million, a 14.0 percent increase over the fourth quarter of fiscal year 2005 and a 20.1 percent increase over the prior fiscal year. For the Commercial segment, revenue increased to $64.8 million for the fourth quarter and a record $229.5 million for the fiscal year. These figures represent a 40.9 percent increase over the fourth quarter of fiscal year 2005 and an increase of 29.4 percent over the prior fiscal year. During the year, ViaSat was awarded over $56 million from Boeing Company for a Ground Based Beam Forming system in support of Mobile Satellite Ventures' plannednew hybrid space/ground mobile network. The company also increased its breadth and depth in satellite broadband with the purchase of Efficient Channel Coding Inc. ECC, ViaSat said, adds experience in state-of-the-art custom digital chip designs to ViaSat, including the new Adaptive Coding & Modulation (ACM) modes of the S2 version of the DVB-RCS (Digital Video Broadcast -- Return Channel Satellite) satellite broadband standard. ECC also supplies custom modem chips, reference designs, and gateway technology for the Asian IPSTAR spot-beam satellite system.
Source: Satnews Daily
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